Gulf of Mexico ‘Dead Zone’ Forecasted to be Smaller Than Average
News Archives - Insurance Journal Jun 9, 2023 | 12:57 pmEW ORLEANS (AP) – The oxygen-depleted “dead zone” that forms each year in the Gulf of Mexico off Louisiana and Texas is forecast to cover about 4,155 square miles (10,761 square kilometers) this year. That’s about 1,200 square miles (3,107[…]
Read more...People Moves: VIAA Names Von Ruden Personal Foundation Coach; Holmes Murphy Names Tanny Property Casualty VP
News Archives - Insurance Journal Jun 9, 2023 | 12:51 pmValley Insurance Agency Alliance Hires Von Ruden as Personal Foundation Coach Valley Insurance Agency Alliance (VIAA), headquartered in St. Louis, Missouri, recently hired Trish Von Ruden as personal foundation coach. Von Ruden will coach new and existing team members on[…]
Read more...New Orleans Steamboat Company Fined $100K for Violating Clean Water Act
News Archives - Insurance Journal Jun 9, 2023 | 12:43 pmThe New Orleans Steamboat Company (NOSC) was charged on May 26, 2023 with violating the Clean Water Act (“CWA”) in connection with a discharge of excess ballast material into the Industrial Canal in New Orleans in 2019, according to the[…]
Read more...Coinbase Suit May Finally Send Crypto Debate to Supreme Court
News Archives - Insurance Journal Jun 9, 2023 | 11:56 amThe SEC’s new lawsuit against Coinbase Global Inc. appears best positioned among cryptocurrency cases to let the US Supreme Court finally decide if digital assets count as securities. The crypto tokens traded by Coinbase users should be treated as unregistered[…]
Read more...Companies Face Less Pressure for Climate and Social Reforms
News Archives - Insurance Journal Jun 9, 2023 | 11:43 amShareholder support for proxy resolutions on topics including climate change and workforce diversity dropped significantly this spring, analysts said, as tough proposals from activists met with growing political pressure on fund firms’ voting. Halfway through the shareholder annual meetings of[…]
Read more...UK Eyes War-Risk Insurance Scheme for Ukraine’s Reconstruction
News Archives - Insurance Journal Jun 9, 2023 | 11:14 amThe UK is drawing up a war-risk insurance scheme that it hopes will convince investment companies as well as tech, energy and defense firms to back Ukraine’s reconstruction with billions in aid, people familiar with the plans said. Britain is[…]
Read more...Farmers CEO Reverses Course to Require Hybrid Work Schedule for Employees
News Archives - Insurance Journal Jun 9, 2023 | 11:08 amNew Farmers Group CEO Raul Vargas has reversed a prior company decision to allow most workers to do their jobs from home by instituting a hybrid work scheduling starting in September. Despite some employees reportedly making major life changes –[…]
Read more...Florida Lawmakers Finally Approved Workers’ Comp Physician Reimbursement Plan
News Archives - Insurance Journal Jun 9, 2023 | 10:53 amFor the first time in six years, Florida has a new health care provider reimbursement manual, governing workers’ compensation fees for doctors. But the manual already could be considered three years out of date. It also will soon face a[…]
Read more...New Jersey’s Montclair Township Cyber Attack Reported on Election Day
News Archives - Insurance Journal Jun 9, 2023 | 10:45 amMontclair Township in New Jersey has been hit by a cyber attack, Mayor Sean Spiller reported on June 6. The town was holding a municipal election on June 6. According to the mayor, the attack did not disrupt any voting[…]
Read more...Alabama High Court Declines to Lift Injunction Blocking Coastal Bridge
News Archives - Insurance Journal Jun 9, 2023 | 10:10 amA divided Alabama Supreme Court on Friday declined to lift a preliminary injunction blocking construction of a new coastal bridge. Justices in a 5-3 decision declined the emergency request from the Alabama Department of Transportation to lift the injunction halting[…]
Read more...People Moves: Shepard to Lead FCCI New England Surety Business Expansion
News Archives - Insurance Journal Jun 9, 2023 | 10:02 amFCCI Insurance Group has hired Phil Shepard to lead its surety line of business expansion into New England. FCCI is now writing contract and commercial surety bonds in the six New England states – Connecticut, New Hampshire, Maine, Massachusetts, Rhode[…]
Read more...NC Bill Banning Environmentally Conscious Investment Advances in Senate
News Archives - Insurance Journal Jun 9, 2023 | 10:00 amNorth Carolina agencies and state pension plans would be prohibited from using socially and environmentally conscious criteria to make investment decisions or hire employees, under legislation that advanced Wednesday in the state Senate. The proposal, which passed the GOP-controlled House[…]
Read more...Russian President Putin Signs Law Creating Eurasian Reinsurance Company
News Archives - Insurance Journal Jun 9, 2023 | 09:24 amThe Kremlin announced that Russian President Vladimir Putin has signed a law to ratify the creation of the Eurasian Reinsurance Co. The Eurasian Economic Union (EAEU) agreed in October 2022 to form the company, which is intended to facilitate investment,[…]
Read more...Charity Settles False Claims to Help Those Impacted by Ohio Train Derailment
News Archives - Insurance Journal Jun 9, 2023 | 09:22 amCOLUMBUS, Ohio (AP) – Thousands of dollars raised by a charity that falsely claimed it would help residents affected by a train derailment on the Ohio- Pennsylvania border earlier this year will be turned over to a food bank serving[…]
Read more...New Mexico Sues Manufacturers of ‘Forever Chemicals’ Amid Health Concerns
News Archives - Insurance Journal Jun 9, 2023 | 09:20 amNew Mexico’s attorney general and its Environment Department filed suit against the manufacturers of so-called “forever chemicals,” commonly referred to as PFAS, seeking monetary damages to defray the costs of environmental monitoring and cleanups that they say are inevitable. Attorney[…]
Read more...Climate Change and Homeowners’ Insurance Are on a Collision Course
News Archives - Insurance Journal Jun 9, 2023 | 08:58 amA summer that has already seen water crises and wildfire smoke is rapidly becoming an inflection point in the pitched battle between climate change and the price of homeowners’ insurance in the US. American International Group Inc., which has already[…]
Read more...Philippines Raises Alert Over Volcano, Villagers Urged to Leave Danger Zone
News Archives - Insurance Journal Jun 9, 2023 | 08:46 amPhilippine officials on Thursday raised the alert level for one of the country’s most active volcanoes after superheated streams of gas, debris and rocks cascaded down its upper slope in a condition they fear could lead to a hazardous eruption[…]
Read more...Former SCOR CEO Kessler, 71, Dies
News Archives - Insurance Journal Jun 9, 2023 | 08:33 amDenis Kessler, 71, non-executive chairman of SCOR and the reinsurer’s former chief executive, died Friday, the company said. “Over the past two decades, Denis Kessler has been the architect behind SCOR’s success and reputation throughout the world,” said Thierry Léger,[…]
Read more...Survey: Younger Generations More Tolerant of Fraud
News Archives - Insurance Journal Jun 9, 2023 | 01:32 amA significant number of Americans ages 44 and younger show a high level of tolerance for insurance fraud, according to a new survey of insurance consumers by Verisk and the Coalition Against Insurance Fraud. The accompanying study found that while[…]
Read more...Acrisure Acquires TEn, Will Go to Market as Eleven Network
News Archives - Insurance Journal Jun 9, 2023 | 01:21 amAcrisure said it has acquired TEn Insurance Services Ltd. As part of the acquisition, TEn will go to market as Eleven Network. The deal is expected to close in the near term, pending FCA regulatory approvals. Terms were not disclosed.[…]
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